5,000 Shares in Samsara Inc. (NYSE:IOT) Bought by Canton Hathaway LLC

Canton Hathaway LLC purchased a new stake in Samsara Inc. (NYSE:IOT) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 5,000 shares of the company’s stock, valued at approximately $241,000.

Several other institutional investors have also recently made changes to their positions in the stock. Resources Management Corp CT ADV increased its position in Samsara by 104.0% in the 2nd quarter. Resources Management Corp CT ADV now owns 961 shares of the company’s stock valued at $32,000 after buying an additional 490 shares in the last quarter. National Bank of Canada FI bought a new stake in shares of Samsara during the second quarter valued at approximately $38,000. Nemes Rush Group LLC acquired a new position in shares of Samsara during the second quarter worth approximately $45,000. UMB Bank n.a. lifted its holdings in shares of Samsara by 69.1% in the 3rd quarter. UMB Bank n.a. now owns 1,023 shares of the company’s stock worth $49,000 after purchasing an additional 418 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt grew its position in Samsara by 250.0% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,400 shares of the company’s stock valued at $67,000 after purchasing an additional 1,000 shares during the period. Institutional investors and hedge funds own 89.39% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Sanjit Biswas sold 93,107 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $39.92, for a total value of $3,716,831.44. Following the sale, the chief executive officer now directly owns 76,800 shares of the company’s stock, valued at $3,065,856. This trade represents a 54.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider John Bicket sold 93,212 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $39.92, for a total transaction of $3,721,023.04. Following the completion of the transaction, the insider now directly owns 76,800 shares of the company’s stock, valued at approximately $3,065,856. This represents a 54.83 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,826,114 shares of company stock worth $84,024,779 in the last quarter. 60.04% of the stock is owned by company insiders.

Analysts Set New Price Targets

IOT has been the topic of several research reports. Piper Sandler upped their price objective on shares of Samsara from $36.00 to $40.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Craig Hallum started coverage on shares of Samsara in a research report on Tuesday, October 22nd. They issued a “hold” rating and a $48.00 price target on the stock. Morgan Stanley lifted their price target on Samsara from $40.00 to $52.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 20th. Truist Financial increased their price target on Samsara from $40.00 to $50.00 and gave the company a “hold” rating in a research report on Monday, November 18th. Finally, Evercore ISI lifted their target price on shares of Samsara from $40.00 to $42.00 and gave the stock an “in-line” rating in a research report on Friday, September 6th. Nine investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $45.67.

Samsara Trading Up 1.3 %

IOT opened at $57.11 on Monday. The firm has a 50-day moving average price of $49.25 and a 200-day moving average price of $41.45. Samsara Inc. has a twelve month low of $26.13 and a twelve month high of $57.11.

Samsara (NYSE:IOT) last issued its earnings results on Thursday, September 5th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.04. Samsara had a negative net margin of 24.19% and a negative return on equity of 20.39%. The business had revenue of $300.20 million for the quarter, compared to analysts’ expectations of $289.53 million. During the same quarter in the previous year, the firm posted ($0.11) EPS. The business’s revenue for the quarter was up 36.9% compared to the same quarter last year. Equities research analysts anticipate that Samsara Inc. will post -0.34 EPS for the current fiscal year.

Samsara Profile

Samsara Inc provides solutions that connects physical operations data to its connected operations cloud in the United States and internationally. The company's Connected Operations Cloud includes Data Platform, which ingests, aggregates, and enriches data from its IoT devices and has embedded capabilities for AI, workflows and analytics, alerts, API connections, and data security and privacy.